Publication Type
Journal Article
Version
publishedVersion
Publication Date
11-2019
Abstract
In this article, the author describes a classroom experiment in which participants make decisions to achieve the lowest-cost production. Student volunteers acting as smartphone companies are provided with confidential information representing their own cost of production and are asked to make trade decisions to form a supply chain at the lowest possible cost. This interactive classroom experiment facilitates an understanding and appreciation of the basic demand and supply model. Students also explore the motivations, facilitators, and impediments of global supply chains. Suggestions are made to expand the game by incorporating more sophisticated models of the global supply chain, and also ways in which it can explore aspects of economics such as transportation costs, oligopoly and the narrowing wage gap between Eastern and Western economies.
Keywords
Active learning, Classroom Experiment, Demand and Supply, Global Supply Chains
Discipline
Macroeconomics | Operations and Supply Chain Management
Research Areas
Macroeconomics
Publication
Journal of Economic Education
First Page
42
Last Page
51
ISSN
0022-0485
Identifier
10.1080/00220485.2019.1687373
Publisher
Taylor & Francis (Routledge): SSH Titles
Citation
HONG, Bei.
A demand and supply game exploring global supply chains. (2019). Journal of Economic Education. 42-51.
Available at: https://ink.library.smu.edu.sg/soe_research/2359
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1080/00220485.2019.1687373